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...green light to Israel to bomb Iran's nuclear facilities. Many in the industry have long viewed such an attack as a prelude to a nightmare in global energy markets: Iran retaliating by sinking oil tankers in the Strait of Hormuz, blocking the route by which most Persian Gulf oil travels to world markets. "We will be in deep, deep trouble," says Leo Drollas, deputy director and chief economist of the Center for Global Energy Studies in London. "The market will go berserk...

Author: /time Magazine | Title: Oil Shocks: Biden, Iran and Fears of Another Price Jump | 7/7/2009 | See Source »

...average, hurricanes in the U.S. have caused about $800 million in damage annually during El Niño years, half the damage caused during the reverse event, La Niña. (See pictures of Hurricane Ike sweeping across the Gulf...

Author: /time Magazine | Title: El Niño Is Changing for the Stormier | 7/3/2009 | See Source »

...center of the Pacific Ocean. Called El Niño Modoki (after the Japanese term meaning "similar, but different"), the new El Niño seems to shift Atlantic cyclones to the west, resulting in more frequent storms and more hurricanes making landfall on the coast of the Gulf of Mexico and Central America. Because many climatologists believe that climate change is also strengthening the storms that form, a hotter future could be one with hurricanes that are both more powerful and more common. (Read "Why Disasters Are Getting Worse...

Author: /time Magazine | Title: El Niño Is Changing for the Stormier | 7/3/2009 | See Source »

...Porsche turned to the German government for help, but was rebuffed. Wiedeking has been negotiating with the Gulf state of Qatar over a cash infusion, but has so far failed to reach any deal. Piech sees the crisis as an opportunity to turn the tables and for VW to take control of Porsche, rather than the other way around. He's offered to buy Porsche's auto operations - but in a manner that provoked a furious response. Last weekend, the usually press-shy Wolfgang Porsche fired off an angry statement to the media accusing his cousin of issuing an ultimatum...

Author: /time Magazine | Title: Why VW and Porsche are On a Collision Course | 7/2/2009 | See Source »

...clutter metrics" - the study of how the eye locates and detects objects - to create increasingly complex designs. The familiar "U.S. Woodland" pattern, which has been taken up by soldiers in Ghana, Zambia, Uganda and Liberia, replaced the "tiger stripe" look of the Vietnam War, while troops during the first Gulf War donned "chocolate chip" or "cookie dough" duds - nicknames outdone only by the "scrambled egg" scheme favored by Egyptian forces. (The mottled black and off-white flecks found on both are meant to mimic the gravel and stones of a desert landscape...

Author: /time Magazine | Title: Camouflage | 6/22/2009 | See Source »

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